Baosheng Media Group Holdings Limited Ordinary shares - BAOS STOCK NEWS

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) announced on April 5, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement. The notification came after Baosheng's ordinary shares met the minimum bid price of $1.00 for 10 consecutive business days, from March 22 to April 4, 2023. The company had previously faced a compliance issue after being notified on December 19, 2022, regarding its failure to maintain the minimum bid price for 30 consecutive business days. To regain compliance, Baosheng executed a share consolidation on March 21, 2023, consolidating six ordinary shares into one. With this notification, the compliance matter is now closed.

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) has announced a share consolidation plan to convert six ordinary shares into one ordinary share, effective March 21, 2023. The consolidation will automatically combine shares without action required from shareholders. Following the consolidation, shares will trade under the same symbol "BAOS" starting March 22, 2023, with a new CUSIP number of G08908 124. The company's authorized share capital will be modified to US$60,000, divided into 6,250,000 shares at a par value of US$0.0096. No fractional shares will be issued, as all will be rounded up.

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) received a notification from Nasdaq on December 19, 2022, indicating non-compliance with the minimum bid price requirement of US$1.00 per share. The company's stock price fell below this threshold for 30 consecutive business days, from November 2 to December 16, 2022. Baosheng has until June 19, 2023, to regain compliance or may face delisting. Despite this, the company asserts that its operations remain unaffected and is considering strategies, including a potential reverse share split, to improve stock performance.

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) reported a challenging first half of 2022, with revenues declining by 82.3% to $428,150 from $2.4 million in H1 2021. The company posted a gross loss of $1.1 million, shifting from a profit of $1.4 million a year earlier. Net loss surged 2,222.8% to $6.3 million, translating to a loss per share of $0.22. Cost management showed some promise with a 32.9% reduction in selling expenses. Despite these numbers, the CEO emphasized opportunities in the digital economy and ongoing efforts to enhance their marketing model.

On June 14, 2022, Baosheng Media Group Holdings Limited (NASDAQ: BAOS) announced it has regained compliance with Nasdaq's minimum bid price requirement. Following a notification on February 1, 2022, regarding a failure to maintain a minimum bid of $1.00 per share, the company completed a 1-for-3.2 reverse stock split effective May 24, 2022. The company reported a closing bid price at or above the required $1.00 per share for the last 10 consecutive business days from May 25 to June 8, enabling it to meet Nasdaq's Listing Rule 5550(a)(2).

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) announced a share consolidation of 3.2 ordinary shares into one ordinary share as of May 24, 2022. This consolidation will take effect immediately, and from May 25, 2022, shares will trade under the same ticker, BAOS, but with a new CUSIP number of G08908 116. There will be no fractional shares issued; all fractions will be rounded up. Post-consolidation, the authorized share capital will be US$50,000, divided into 31,250,000 shares with a par value of US$0.0016.

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) received a Notification Letter from Nasdaq on February 1, 2022, indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company failed to maintain this price for 30 consecutive business days from December 16, 2021, to January 31, 2022. Although the company has until August 1, 2022, to regain compliance, it may consider a reverse share split if necessary. The company's operations remain unaffected by this notification.

Baosheng Media Group Holdings Limited (NASDAQ: BAOS) has reported financial results for the first half of 2021, revealing significant declines in revenue and profitability. Total revenues fell by 75.4% to $2.4 million, while net loss escalated to $271,671, compared to a profit of $6.2 million in the same period last year. The gross profit also decreased by 84.3%, leading to a gross margin of 59.8%. Despite these challenges, the Company is optimistic about future growth, particularly through its partnerships with Alibaba and Bytedance in the Ocean Engine platform.

Baosheng Media Group Holdings Limited (Nasdaq: BAOS) announced new partnerships with major companies across various sectors including e-commerce and real estate to enhance its in-feed advertising services via its mobile marketing platform, Ocean Engine. The partnerships aim to expand the company's customer base, leveraging its expertise in online marketing. Notable new clients include 5I5J Holding Group and Hangzhou Kaikeba Technology. Chairwoman and CEO Wenxiu Zhong expressed optimism about the strategic growth and service enhancements expected from these partnerships.